After eight years with Warner Music Group, music executive Lyor Cohen is stepping down as Chairman/CEO on September 30. It is rumored that former EMI CEO Roger Faxon will take over as Chairman/CEO of Warner. Below are some excerpts from Billboard:

“To all the artists and employees who live and die for the music every day, and who personally sacrifice for the good of the creative process: ‘keep on keepin’ on’ in the tradition of a company that respects and honors the artistic community,” said Cohen

Len Blavatnik, chairman and founder of Access Industries (they purchased Warner last year), said, “I personally want to thank Lyor for his dedication and contributions to Warner Music. He has been both a business partner and personal friend and I wish him only the best.”

Stephen Cooper, WMG’s CEO, said, “Lyor Cohen has built something very special here. While we understand his desire to move on to his next challenge, the enduring success of our recorded music division will serve as a great testament to the progress we’ve made during Lyor’s time at WMG. We are grateful for Lyor’s contributions, and we wish him the best. I’m confident that given the strength of our talented management team in Recorded Music, we’ll be able to drive further success.”

Lyor Cohen is good person and someone who I look up to in this industry. I last saw him back in May at the MMG Press Conferenceat the Eventi Hotel in Manhattan. Lyhor, I wish you the best of success in all of your future endeavors.-Don Bleek